Introduction to understanding your market

Without market research your business idea will remain just an idea. 

  • It will help you to understand:    
  • your customers and their needs
  • what trends will impact on your business
  • your competition
  • how customers perceive your idea or brand
  • how to segment your target market

Example: Julia

Julia is a wedding photographer 

Julia, discovered through her market research:

My wedding photography customers will be Brides-to-be, the Mother-of-the-Bride and the Bride’s friends and family. Through market research, I discovered that most of the wedding photography works comes through recommendations – from previous customers, as well as from other wedding suppliers.